Allowed

Sanatan Sanstha Satara, Trust Represented by Its Trustee Shri Prakash R. Marathe v. Super Soaps(India) Pvt.Ltd.and 2 Ors., Cin NO.U24240MH2007PTC175781

Bombay HC19 Sept 2014CP/523/2013

Case brief

AI extract

What is this about?

The High Court allowed a winding-up petition against Super Soaps (India) Private Limited. The petitioner demonstrated the company was unable to pay a sum due despite serving a statutory notice, necessitating an order for winding up.

What did the court decide?

Respondent company ordered to be wound up; Official Liquidator appointed.

Sanatan Sanstha Satara, Trust Represented by Its… — Company and Corporate | Bombay HC (2014)

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910-CP-523-2013

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY PETITION NO. 523 OF 2013

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Sanathan Sanstha Satara … Petitioner Versus

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Super Soaps (India) Private Limited … Respondent

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Mr. S.G. Punalekar i/b. Ms. Jyoti Ghorpade for the Petitioner. None for the Respondent.

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Ms. Pranali Suryaji i/b. Mr. Bhupesh Samant for N.K.G.S.B. Bank (secured creditors)

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CORAM : S.J. KATHAWALLA, J. DATE : 19TH SEPTEMBER, 2014

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P.C.:

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By this Company Petition, the Petitioner seeks winding up of Super Soaps (India) Private Limited (the Company) under Sections 433 (1) (e) and 434 of the Companies Act, 1956 (the Act). The Petition is taken up for hearing and final disposal.

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According to the Petitioner, on 25^th June, 2009 the Company

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entered into an agreement with the Petitioner to supply soaps under the brand name of 'Sanatan' for a period of one year. The Petitioner thereafter placed various orders on the Company and also paid an advance amount to the Company as per the terms and conditions set out in the agreement.

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According to the said agreement, the Petitioner was to also supply certain material to the Company. Accordingly, the Petitioner made various payments to the Company aggregating to Rs.23,19,945/- and also provided material worth Rs. 60,665/-. The Petitioner received the soaps from the Company to the tune of Rs. 20,31,395.05/- as on 21^st January, 2011. Thereafter, the Company stopped the supply of soaps to the Petitioner without any justification. A sum of Rs. 3,49,215/- is therefore due and payable by the Company to the Petitioner.

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According to the Petitioner, despite several requests made to the Company by the Petitioner, the Company failed and neglected to pay the outstanding amount due to the Petitioner. The liability of the Company to pay the said amount is admitted by the Company and acknowledged in its statement of account as on 21^st January, 2011 as well as its audited balance sheet as on 31^st March, 2011.

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The Petitioner therefore through its Advocate served the statutory notice dated 5^th April, 2012 at the registered office address of the Company. The Company despite having received the said statutory notice failed to respond to the same and also neglected to make the payment as called upon therein. The Petitioner, therefore, filed the above Petition and tried to serve the same on the Company at its registered

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office address. However, the packet containing a copy of the Petition was returned with the remark 'left'.

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The Petitioner was taken for admission on 8^th July, 2014. However, none appeared for the Respondent. In view thereof, the above Company Petition was admitted and directed to be advertised. Paragraph No. 6 of the order dated 8^th July, 2014 is relevant and therefore reproduced hereunder :

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“6. From the aforestated facts, I am prima facie satisfied that an amount of Rs. 3,49,215/- is due and payable by the Company to the Petitioner alongwith interest thereon as claimed by the Petitioner. The Company has neither replied to the statutory notice nor made any payment as called upon therein. The Petition was sent to the registered address of the Company which address is shown as the registered office address of the Company in the records of the Registrar of Companies. In view thereof, the said Petition is deemed to have been served on the Company though the same have been returned with the remark 'left'. The Company has not filed its Affidavit in Reply and has also not come forward to

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oppose the Petition. In view thereof, the allegations/submissions made by the Petitioner in the Company Petition have remained uncontroverted and there is no reason why the allegations/submissions made by the Petitioner in the Company Petition should not be accepted. The Company is therefore deemed to be unable to pay and discharge its debts and liabilities in the normal course of business”.

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Pursuant to the order dated 8^th July, 2014, the above Company Petition has been advertised in two local newspapers as well as the Maharashtra Government Gazette. Affidavit of publication in two local newspapers dated 12^th September, 2014 is on record. A copy of the Maharashtra Government Gazette, in which the Admission of the above Company Petition has been advertised is also on record.

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Ms. Pranali Suryaji appearing for N.K.G.S.B. Bank states that the Company has till date not paid an amount of Rs. 1,61,83,945/-, due and payable by it to the said bank as on 1^st September, 2014 and the said bank has initiated proceedings against the Company under the SARFAESI Act, 2002. Even at this stage, the Company has not come forward to oppose the above Company Petition. In the circumstances, I

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am satisfied that the Company is unable to pay its debts, is commercially insolvent and deserves to be wound up. The above Company Petition is, therefore, allowed in terms of prayer clause (a) and (b), which are reproduced hereunder :

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(a) The the Respondent namely Super Soaps (India) Private Limited be ordered to be wound up by and under orders of this Honourable Court under the provisions of the Companies Act, 1956.

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(b) That Official Liquidator of the High Court, Bombay be appointed as Liquidator of Respondent with all powers under the provisions of the Companies Act, 1956”.

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The Official Liquidator to forthwith act on an ordinary copy of this order, duly authenticated by the learned Associate of this Court without waiting for any further notification from this Court or from any other authority.

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The above Company Petition is accordingly disposed of.

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( S.J.KATHAWALLA, J. )

Sanatan Sanstha Satara, Trust Represented by Its Trustee Shri Prakash R. Marathe v. Super Soaps(India) Pvt.Ltd.and 2 Ors., Cin NO.U24240MH2007PTC175781

Case brief

What is this about?

What did the court decide?

Sanatan Sanstha Satara, Trust Represented by Its Trustee Shri Prakash R. Marathe v. Super Soaps(India) Pvt.Ltd.and 2 Ors., Cin NO.U24240MH2007PTC175781

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

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